Irish economy faces the test of Trumps protectionism [Video]

With a general election next week, Ireland and its 5.4 million inhabitants fear finding themselves in the eye of a protectionist storm promised by incoming US president Donald Trump.

Ireland has a budget surplus — a rarity in the European Union — as well as record growth, putting its economy in rude health, despite the conflicts in Ukraine and the Middle East that have hit its nearest neighbours.

Its long-standing asset has been a corporate tax rate that has enticed major US tech giants such as Apple, Google and Facebook parent company Meta to set up European headquarters in Dublin.

Much to the annoyance of other capitals in the bloc, they send their European profits to Dublin to pay less tax, in a deal that in turn ensures Ireland billions.

“Corporate tax is a major source of revenues,” said economist James Charles Stewart.

But the return of Trump is worrying the Irish.

If he follows through on a promise …